SOTHEBY’S INTRODUCES ‘INSTANT’ FINE WINE CELLARS
Sotheby’s Retail has introduced an ‘Instant Cellars’ concept, giving customers in the US and Hong Kong the chance to buy wine collections for drinking, cellaring and investment.
In the US, these cellar ‘starter packs’ range from a simple introductory cellar costing US$5,000 to a collection costing US$25,000, with two further options in-between; while only two options are, currently, available in Hong Kong.
The number of wines, choice and average bottle price changes from cellar to cellar and includes a consultation with a specialist in order to arrive at a final selection that suits the tastes of the individual.
The selection of wines available also differs slightly between the US and Hong Kong but covers all the basics of French, Italian, Australian and US fine wine
All of the cellars, once chosen, can be delivered to select US cities or within the Hong Kong SAR in 24 hours.
The options available in the US include:
- Cellar 1 – ‘Introductory’: 50 bottles of wine with an average price of $115; the customer chooses 25 wines, two bottles of each. $5,000
- Cellar 2 – ‘Intermediate’: 72 bottles of wine with an average price of $150; choose 36 wines, two bottles of each. $10,000
- Cellar 3 – ‘Enjoyment’: 165 bottles of wine with an average price of $165; choose 55 wines, three bottles of each. $25,000
- Cellar 4 – ‘Investment’: 90 bottles of wine with an average price of $300; choose 15 wines, six bottles of each. $25,000
The full list of wines for each cellar include:
- Cellar 1 – 2004 Dom Ruinart; Bernard-Bonin 2015 Meursault Vieilles Vignes; 2009 Branaire-Ducru; 1996 Calon-Ségur; 2005 Langoa Barton; 2009 Montrose; 2014 Denis Bachelet Gevrey Chambertin Vieilles Vignes; 2013 Aldo Conterno Barolo Bussia; 2013 Ulysses.
- Cellar 2 adds – 2008 Louis Roederer; 2010 Climens; 2013 Pavillon Blanc; 2014 Bonneau du Martray Corton Charlemagne; 2011 Comtes Lafon, Volnay; 2006 Forts de Latour; 2013 Ornellaia; 2013 Claude Dugat, Gevrey Chambertin.
- Cellar 3 adds – 2009 Dom Peerignon (Tokujin Yoshioka edition); 2002 Pol Roger Winston Churchill; 2013 Aile d’Argent; 2015 Domaine Leflaive, Puligny Montrachet Clavoillon 1er Cru; 2009 Hosanna; 2001 Léoville Las Cases; 2005 Vieux Château Certan; 2005 Montrose; 2007 Prieuré-Roch, Nuits Saint Georges Clos des Corvees; 2011 Solaia and 2013 Araujo.
- Cellar 4 – 2012 Angélus; 2009 Pontet Canet; 2014 Geroges Roumier, Chambolle Musigny; 2009 Pavillon Rouge; 2008 La Mission Haut-Brion; 2015 Robert Groffier, Chambolle Musigny Les Hauts-Doix 1er cru.
Here is the breakdown – The US$5,000 entry-level instant cellar includes some of the best French Burgundy and Bordeaux, as well as Napa Valley Cabernet Sauvignon and Italian Barolo. At the high-end of the spectrum, Sotheby’s offers two US$25,000 cellars, which give potential buyers a chance to purchase either a range of top-flight wines for “enjoyment” or a more select group of top red Burgundy and Bordeaux for investment.
The “enjoyment” cellar, as Sotheby’s has dubbed it, includes 55 different wines, for a total of 165 bottles. The range of wines chosen is designed to give future collectors a chance to explore and discover what kinds of grapes, regions, and styles they prefer. Fans of white Burgundy, for example, have eleven selections to try, offering the chance to compare styles of winemakers and different vintages.
The cellar includes two white Burgundies produced by Domaine Leflaive in 2015, a Bourgogne Blanc, which is the most generic appellation for white wine in Burgundy, and a selection of premier cru, a designation in Burgundy a notch below the top-tier Grand Cru that’s only given to single vineyard wines.
Buyers can decide whether they prefer one over the other, or compare Leflaive’s Burgundies to two examples of 2015 white Burgundies produced by Jean-Noel Garnard.
The “investment” cellar, by contrast, includes only 15 selections of red wine, with six bottles of each, meaning the average price of each bottle is US$300. The 90 bottles are more or less evenly split between Burgundy and Bordeaux, and are from top producers and vintages expected to grow in value. Examples range from a 2005 Vieux Château Certan from Pomerol, Bordeaux to a Domaine Anne Francoise Gros Echezeaux Grand Cru from Côte de Nuits in Burgundy.
Sotheby’s is also offering two versions of the instant cellars in Hong Kong: an introductory cellar of 46 bottles for HK$33,000 and an intermediate cellar of 62 bottles for HK$70,000.
For the collection management and advisory business, Sotheby’s is targeting clients who are eager to build a cellar but aren’t confident in their tastes, or what they should buy. For an annual fee Sotheby’s will work with these clients to ascertain their preferences (“we have a fun questionnaire,” Gilbert says), but it’s up to the client how much they want to be involved and “how much they want us to take the reins,” she says. Sotheby’s will even buy wines from “trusted sources” outside the company, as well as from Sotheby’s, and will help install and manage the inventory.
For long-time collectors, Sotheby’s can help track inventory, as well as guide clients on what wines to drink, sell, or continue to age.
Sotheby’s will charge an undisclosed annual fee for its wine advisory services, while the fees for collection management will be tailored to the individual needs of each client.
Sources: Drinks Business and Sotheby’s
Champagne exports 2011 reached their second highest volume in five years – with sales close to the peak of 2007. Exports in 2011 were up by 5.1%, rising to a total of 141.2m bottles, the second largest volume ever achieved behind 2007 and only 9.5m bottles less than this peak, according to the latest statistics just released by Champagne’s governing body CIVC.